China to block access to bitcoin exchanges and possibly miners so they can't mine anymore

China to block access to bitcoin exchanges and possibly miners so they can't mine anymore.

twitter.com/btcdrak/status/908998917995552776


70% of all coins are mined in China. If this is true crypto is over until ethereum gets PoS.

Other urls found in this thread:

qz.com/1071926/japans-gmo-internet-group-plans-a-300-million-investment-in-bitcoin-mining/
twitter.com/btcdrak/status/909020264742211584
pastebin.com/6vKp6rh6
twitter.com/WhalePanda/status/909000193705693185
twitter.com/NSFWRedditImage

Do you even know how supply and demand works?

Explain.

Good. Less dumping by the insect pieces of shit with their heavily subsidised electricity.

Seriously, any directive that diminishes gook participation in crypto is nothing but fantastic news.

>70% of mining stop
>difficult lowers
>everyone else continues to mine
>stays the same
>china gets no money

seems about right

wow, how convenient on the timing of this. Just when bitcoin is starting to drop.

Really activates my almonds.

Also, anyone can type this shit up on Microsoft word.

Mining shouldn't be the problem unless the mining power is used to attack the network. However it will reflect bad on the prices for a period of time.

so much stupid in one post

really not sure what is worse .... thinking china ban is bad, or that PoS actually works

This could also mean that the Chinese economy is very bad and about too implode.

Why else would they feel the need to ban bitcoin right about now?

Bitcoin will survive, difficulty will adjust.

Japan is new china anyway

Have fullly embraced crypto and are about to go hard in mining

qz.com/1071926/japans-gmo-internet-group-plans-a-300-million-investment-in-bitcoin-mining/

show the red meme stamp on all government documents or i'm not buying your retarded FUD bullshit

They're on the ropes, no doubt. There has been a big diversion of foreign investment away from China into south east Asia that must be starting to take it's toll.

What is so retarded about the document? Have you had your head up your ass the past two weeks?

SURELY IT MUST BE TRUE THIS TIME

china wants capital controls. there's no reason for them to ban miners you fucktard. holy shit, the IQ of this board has dropped more than /pol/. SLEL SELL SELl

China wants to get rid of BTC altogether and issue a government controlled cryptocurrency you fuck.

as someone who knows exactly whats about to happen, BAIL NOW and buy in when it hits around 3200, Get dem satoshis

I read chinese and it basically says to "report high frequencies or strange occurences" for bitcoin over tor and vpn, to monitor miner communication activity and to contact local authorities to restrict such communication if necessary

they're going after exchanges. exchanges will become licensed . they're not going to bleed money from domestic economy. where the fuck you guys even get this stuff? sell everything you get rich mongrel

...

And the only way to have total control over crypto would be for the state to also assume control of the miners the same way that they are doing to the exchanges. There is no way that they're going to leave the mining loophole open.

to follow up
>china is finally good at something
>ban it

strangely not everyone is as retarded as u

That would be true if the Chinese weren't also the main drivers in demand

You salty chink fuck! Buy high, chink faggot.

applicable go be 12 years old somewhere else

They aren't though. It's a fucking meme. Sales are just fine without their fuckery.

not even chinese u fucking nerd. american from dixie, eat dirt

Brainlet. Worth of bitcoin goes down the more centralised it gets, slower confirmations, higher tx fees, less movement of currency

Btc is a double edged sword you fucking retard. Right now it is responsible for more wealth bleeding from China than it is bringing in. Hence, it is being completely locked the fuck down.

yea, at the EXCHANGES. which will require a higher level of monitoring, which will then be licensed.

no wonder ur so dumb, you have no reading comprehension

>crypto is over until ethereum gets PoS
>he doesn't know about iota

The exchanges will be so over regulated from now on that they'll be effectively state run. The miners likewise. Stop listening to Jihan. He's hardly an unbiased source.

twitter.com/btcdrak/status/909020264742211584
pastebin.com/6vKp6rh6
ENGLISH TRANSLATION ABOVE.


twitter.com/WhalePanda/status/909000193705693185


Welp, back to fiat we go.